Commitments and Contingencies
Kensho Sone, et al. v. Harvest Natural Resources, Inc., in the United States District Court, Southern District of Texas, Houston Division. On July 24, 2013, 70 individuals, all alleged to be citizens of Taiwan, filed an original complaint and application for injunctive relief relating to the Company’s interest in the WAB-21 area of the South China Sea. The complaint alleges that the area belongs to the people of Taiwan and seeks damages in excess of $2.9 million and preliminary and permanent injunctions to prevent the Company from exploring, developing plans to extract hydrocarbons from, conducting future operations in, and extracting hydrocarbons from, the WAB-21 area. The Company has filed a motion to dismiss, and intends to vigorously defend these allegations.
The following related class action lawsuits were filed on the dates specified in the United States District Court, Southern District of Texas: John Phillips v. Harvest Natural Resources, Inc., James A. Edmiston and Stephen C. Haynes (March 22, 2013) (“Phillips case”); Sang Kim v. Harvest Natural Resources, Inc., James A. Edmiston, Stephen C. Haynes, Stephen D. Chesebro’, Igor Effimoff, H. H. Hardee, Robert E. Irelan, Patrick M. Murray and J. Michael Stinson (April 3, 2013); Chris Kean v. Harvest Natural Resources, Inc., James A. Edmiston and Stephen C. Haynes (April 11, 2013); Prastitis v. Harvest Natural Resources, Inc., James A. Edmiston and Stephen C. Haynes (April 17, 2013); Alan Myers v. Harvest Natural Resources, Inc., James A. Edmiston and Stephen C. Haynes (April 22, 2013); and Edward W. Walbridge and the Edward W. Walbridge Trust v. Harvest Natural Resources, Inc., James A. Edmiston and Stephen C. Haynes (April 26, 2013). The complaints allege that the Company made certain false or misleading public statements and demand that the defendants pay unspecified damages to the class action plaintiffs based on stock price declines. All of these actions have been consolida
hope you are right. biggest risk there is political. VZ itself can not pay its bills. And Chevron has been in court for years fighting with Ecuador.
If I was CEO of an domestic oil major I'd head to Mexico and buddy up with PEMEX. Too many Latin American countries abrogate their own laws....kinda like Oboma did GM debt holders. It costs mega-billions to drill offshore. Not many, if any, mid-sized petroleum exploration companies can afford that even with gov't fiat currencies.
I'd say more on a takeout. Just too much consolidation of smaller banks lately..BB&T, BOK, CFR, Prosperity, heck even Zion moved into Houston 2-3 years ago.
Surprising to me USB hasn't landed here with their big foot print.
But SBSI seems to be adding value all the time so I'm not complaining..just speculating.
yeah I said that too and my wife said quite looking in the mirror....
markets in general seem to be stalled..Fed Res Bd, interest rates, economy, weather, Ukraine all pulling on the markets. I don't expect much positive news for a while
in the midst of chaos.
they can kiss mu buttocks. I am out of here. Can't wait to dump this pos. if they can't run the biz then sell the company. Call and let me know how it goes.
the situation in Ukraine makes oil/gas all that more lucrative right now. may have a bit of an influence for all to get the deal done.
took advantage by cashing in their low priced options?
I have heard numerous times that the HFTs and "big" money guys screw the retail investors. But it just occurs to me to ask this ...how?
If I am a HFT with 100,000 shares to move how am I going to sell it to a retail investor that may wish to buy 100....200..1000 shares.
If you think it over I don't see how it makes sense. Another Wall Street cliché down the tubes imho.